Now that you have defined what wealth means to you, and are familiar with most of the terms used and how they can be applied to your personal circumstance, the question to ask is how do you build your own wealth? What we are about to say you may have heard many times before:

Having the right information
Planning and making good choices
Budgeting to save
Controlling debt
Protecting the wealth you have accumulated

Here is an example:

Wish & Hope	Will do by when
Be out of debt	Will be out of debt by September 2019, based on an increasing payment of £100.00 per month to all credit cards
Buy a house	Will buy a house by 2020 and have a deposit of £20,000.00. I will have to save money
Retire early	Will retire at the age of 55. In 25 years, I will to have an income of £25,000.00 per year. I need to have savings of £650.000.00 taking 4‰ as income. To achieve that, I need to save £400.00 per month.

Avoid Debt & Credit Problems

Large debts and the misuse of credit cards are a couple of the barriers that will reduce your ability to save. Money that goes to pay interest, late payment fees and old bills is money that could be invested and enabling you to earn interest.

How much debt is too much debt?

Debt is not necessarily bad, but too much debt is. Add up what you pay towards debt, excluding rent or mortgage. If you do not have more than enough left over to pay your expenses, you have too much debt.